RangeBounce
Concept
RangeBounce is a structure-based mean-reversion entry logic. It looks for a sufficiently wide support/resistance range and then tries to buy the lower edge or sell the upper edge.
Idea
A long setup appears when price is close enough to the nearest support level. A short setup appears when price is close enough to the nearest resistance level.
The model can additionally require:
- a minimum range width so tiny noisy bands are ignored
- M5 and M15 to both classify the market as
Ranging - candle close confirmation in the expected direction
Genetic Algorithm Parameters
- Tolerance to support/resistance in pips
- Minimum range width in pips
- Whether M5 and M15 must both be ranging
- Whether candle close confirmation is required
Best suited for
- sideways or balanced market phases
- symbols where support and resistance levels are respected repeatedly
- traders who want a cleaner distinction between range trading and breakout trading